anyone know if I can change the templates color scheme?
You would do this in your stylesheet.css, which you find in includes/templates/your_template/css/stylesheet.css.

There you look for the colors, change them and just upload again.
MAybe I cant explain well, sorry.
What exactly do you like to change, so I can tell you where exactly?

also, when editing the template, images, logo, etc. do I need to go through the override process as I would if I was making a custom template. Ex: If I want to edit the logo of includes/templates/acadame... do i need to take the logo and make a new directory under includes/templates/custom/... and so on with the process? or can i just take the file, edit it, and the overwrite/replace the old one?
Technically seen you can do both: use acadame folders and replace your changes or create your_template folder name and put everything in there, but then you would need to make a copy of acadame.
Just keep one thing in mind everywhere you see a classic folder create a new one called acadame or your_template.
If you decide to create your_template you will need to switch in the admin the template.

regards,
kruna